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International Game Technology swings to loss in Q2

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International Game Technology swings to loss in Q2

4988308 said its normalized net income for the second quarter was a loss of 19 cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

The per-share result swung to a loss from the prior-year profit of 39 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $37.4 million, compared with income of $67.5 million in the prior-year period.

The normalized profit margin declined to negative 4.5% from 7.1% in the year-earlier period.

Total revenue grew 36.5% on an annual basis to $1.29 billion from $945.3 million, and total operating expenses increased 47.2% on an annual basis to $1.13 billion from $765.2 million.

eported net income totaled a loss of $116.3 million, or a loss of 59 cents per share, compared to income of $56.0 million, or 32 cents per share, in the prior-year period.International Game Technology PLC

4988308 said its normalized net income for the second quarter was a loss of 19 cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.